When it is cold outside one should find some warm and cozy stuff. Tea, coffee, mulled wine and… definitely our hot energy news. Some striking news happens every in the world energy however Ukrenergo review choses only the best and the most interesting ones. Make yourself comfortable and prepare for top-5 energy highlights:
1. World Bank vs. upstream oil and gas. World Bank, one of the most powerful global financial institutions will no longer finance upstream oil and gas, after 2019. World Bank Group President Jim Yong Kim at One Planet Summit hosted by Emmanuel Macron, President of France and the United Nations Secretary General Antonio Guterres delivered the following announcement. Up to 164 world leaders, members of parliament, prominent energy figures and businesspersons attended the Summit that held in the Élysée Palace. Thus, we oversee the great changes within the World Bank`s strategy as originally it aimed at resource extraction in the developing countries (oil, gas and minerals). In exceptional circumstances, starting from 2019, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor. Moreover the projects on upstream oil and gas will comply with the norms and commitments of the Paris Agreement. As of today, World Bank possesseup to 1 bln USD previewed for investments in the extraction of oil and gas within the private sector. The scope of investments will be determined this year. Actually, yes the sum is not that high within the whole Bank. Just as an example: NPC UKRENERGO carries out the projects with the World Bank with a total value of 580 mln USD (up to 200 projects are at the stage of the loan repayment). In any case, this decision is yet another signal for the conventional energy regarding forthcoming threats because of the climate changes.
2. New electricity market in Singapore. КSingapore, a country of the economic mioracle is refine its own electricity market. The open electricity market (OEM) pilot will be launched in Jurong in April 2018. The OEM is expected to be rolled out to the rest of Singapore in the second half of 2018. In particular, there will be introduced a totally liberalized electricity market with a freedom to choose for the small-size business and households; as well the producers will pay the Carbon Tax. Generating companies and independent retailers are open to the new electricity market and new opportunities. Right now, they are actively communicating with the potential consumers. Besides, The Singapore`s Energy Market Authority (EMA) is planning for an integrated communications campaign in the first quarter of 2018. The campaign will focus on explaining the choices available to consumers and assuring them that the reliability of their electricity supply will not be affected by their choice of retailers. It should be mentioned as well the Singapore`s electricity market has been gradually liberalized since 2001. Steadily more consumers have been given the freedom to switch from buying electricity at the regulated tariff to buying from electricity retailers which offer packages at different price plans. Small households and business buying the electricity only at the fixed tariff will get the following opportunity since 2018. Share of the consumers like these amounts up to 1.3 mln ones.
3. China`s geothermal power vs. heating. China will boost shallow geothermal energy heating in smog-prone Beijing-Tianjin-Hebei and nearby regions, in a bid to curb coal use during winter as part of Beijing’s fight against air pollution. Geothermal energy contained in terrain and waters less than 200 metres underground, with temperatures below 25 Celsius, is encouraged to powerheating systems in buildings. It is to be highlighted as well the National Development and Reform Commission(NDRC) asked regions with rich geothermal resources to replace coal heating “as soon as possible”. Some budgetary fund from central financial authorities will be allocated to support construction of geothermal projects. The NDRC has also asked local authorities to open the urban heating market and encourage private capital to invest in geothermal projects. Once again, the Celestial Empire shows a great sample of the eco-mind. China is still among the top-leaders within implementation of the green projects, which are getting stronger and stronger.
4. Iranian energy system development. The Thermal Power Plants Holding Company has signed a contract with unnamed investors to build power plants with a total бelectricity generating capacity of 5,000 MW. The power stations are slated to run on advanced F-Class turbines with the efficiency rate of 58% or higher. According to the official data, 3,000 MW of new electricity output capacity should be added to the grid by July to address the hot summers’ peak demand. Actually, the program is progressing. The Mazandaran Power Plant in northern Iran is scheduled to be synchronized with the national grid by May, 2018. Moreover, the 900 MW Dalahou combined-cycle power plant in the western Kermanshah Province will join the grid by June. Thermal Power Plants Holding Company has not only converted 21 gas-powered plants into combined-cycle ones but also installed 7,500 MW of new power capacity since 2014. The efficiency of the said 21 power stations has reached by 50% that has helped the country save as much as 11 billion cubic meters of natural gas per annum. Overall, the Iranian authorities decided to give up the ineffective power plants shifting to the modern generating technologies. By the way, with an installed power production capacity of around 77,000 megawatts, Iran meets almost 80% of its electricity demand from aging thermal plants operating for decades. Up to 12,000 MW are produced from hydroelectric plants and 1,000 MW from the sole nuclear power plant in Bushehr in the south. Hence, implementation of the ambitious development program is absolutely justified.
5. Clean hydrogen power is getting closer. A chemicals firm AkzoNobe and an energy company Gasunie have joined forces to convert water into green hydrogen using sustainable electricity. It is unique project as the hydrogen is actually used for some types of engines given the fact it`s the cleanest fuel. However, its production is still costly, firstly as regards to the energy costs. Thus, the mentioned companies plan to build a 20 MW water electrolysis unit in the Dutch city of Delfzijl. The businesses claim it would be the largest installation of its kind in Europe and say it would be able to convert renewably sourced electricity into 3,000 tons of green hydrogen a year – enough to fuel around 300 hydrogen buses. The eventual aim of the project is to be able to build similar installations on a scale of up to 100MW as part of the transition to a carbon-neutral economy. Marcel Galjee, Energy Director at AkzoNobel Specialty Chemicals, said “The vast majority of the more than 800,000 tons of hydrogen used by Dutch industry each year is produced using natural gas. Replacing this by sustainably produced hydrogen will reduce carbon dioxide emissions by seven million tons”. However, the real potential is in large-scale production as the basis for green chemistry. A final decision on the project is expected in 2019.